Multi-market maker means that there are several market makers in an option contract, who are jointly responsible for continuous quotation to the market.

Advantages and disadvantages of multiple market makers The advantage of multiple market makers is that the simultaneous existence of multiple market makers helps to weaken the control ability of a single market maker. Competition among market makers helps to reduce bid-ask spreads and transaction costs, make market makers' quotations more market-oriented and make price formation more accurate and objective.

Of course, due to the existence of competition, it is impossible for market makers to obtain stable and considerable profits like monopoly market makers. The ability of a single market maker among multiple market makers to resist the crisis may not be as good as that of a monopoly market maker, and the market price volatility is also stronger than that of a market with monopoly market makers. However, on the basis of monopolizing the market maker system, diversified business systems increase the number of market makers and introduce a competitive mechanism into market maker pricing, which not only realizes continuous trading and activates the market, but also improves the transparency of market information and ensures the openness and fairness of transactions. Because of this, the multi-market maker system is a common practice in international futures and options exchanges.

Under the monopoly market maker system, market makers basically monopolize and control the formation of prices. In order to weaken the position of monopoly market makers, most stock exchanges began to introduce the multi-market maker system. Theoretically speaking, if market makers under the multi-market maker system want to win the entrustment of customers, they must compete in quotation and attract the entrustment of customers with the most favorable quotation conditions, thus providing investors with the best trading conditions. Therefore, market maker competition has become an important guarantee for market maker's market efficiency.

Examples of multiple market makers The London Stock Exchange and Nasdaq market in the United States are typical multiple market makers, and many market makers are responsible for each stock at the same time. In the Nasdaq market, active stocks usually have more than 30 market makers, and the most active stocks sometimes have 60 market makers. Market makers are usually also agents. He can trade for himself, his clients or other agents. Market makers attract customers' orders through price competition.